Companies /Real Estate

Omega Healthcare Investors Inc

NYSE: OHI Reit - Healthcare Facilities
$46.99
▲ $0.20 (+0.43%) today
Markets closed · 11:15pm ET

Q4 2025 Earnings

Reported Feb 4, 2026, 4:18pm ET · SEC source
$0.55
Beat +9.24%
EPS · est. $0.50
$319.2M
Beat +19.11%
Revenue · est. $268.0M
+6.1%
Beating market
OHI vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Feb 4Feb 5report 4:18pm ETearnings−1.5%+6.1%
0+3%+6%Feb 4Feb 5earnings−1.5%+6.1%
OHI +6.1%S&P 500 −1.5%
0+3%+6%Feb 4Feb 5report 4:18pm ETearnings−1.7%+6.1%
0+3%+6%Feb 4Feb 5earnings−1.7%+6.1%
OHI +6.1%NASDAQ −1.7%
0+4%+8%Feb 3Feb 12report 4:18pm ETearnings−0.9%+6.9%
0+4%+8%Feb 3Feb 12earnings−0.9%+6.9%
OHI +6.9%S&P 500 −0.9%
0+4%+8%Feb 3Feb 12report 4:18pm ETearnings−1.1%+6.9%
0+4%+8%Feb 3Feb 12earnings−1.1%+6.9%
OHI +6.9%NASDAQ −1.1%
+6.08%
Day of report
−0.64%
Next session
+3.23%
One week
+6.01%
30 days

S&P 500 over the same 30 days: −0.06%.

Did OHI Beat Earnings? Q4 2025 Results

Omega Healthcare Investors delivered a strong finish to fiscal 2025, posting fourth-quarter earnings per share of $0.55 against a consensus estimate of $0.49, a beat of 12.24%, while revenue of $319.22 million ran well ahead of the $124.39 million analyst expectation and rose 14.3% from the year-ago period. The primary engine behind the quarter's performance was a surge in rental income, which climbed to $261.36 million from $230.81 million in Q4 2024, reflecting the company's aggressive deployment of capital throughout the year, including a $222 million investment to form the Saber PropCo joint venture, a 65-facility portfolio generating $70.20 million in annual contractual rent. Adjusted FFO per diluted share expanded to $0.80 from $0.74 year-over-year, and the company described year-end leverage as the lowest in its history after repaying $1.27 billion in aggregate debt during the quarter. Looking ahead, Omega issued 2026 AFFO guidance of $3.15 to $3.25 per diluted share, a projection that has drawn upward price target revisions from several Wall Street analysts in recent weeks.

Key Takeaways
  • FAD per share grew 8.4% year-over-year to $2.96 in 2025
  • Operator coverage improving with trailing twelve-month EBITDARM coverage rising to 1.93x
  • Occupancy improving to 82.6% for twelve months ended September 30, 2025
  • $1.1 billion in accretive new investments deployed in 2025
  • Leverage reduced to lowest level in company history
  • Rental income increased to $261.4 million in Q4 from $230.8 million in Q4 2024

“We are pleased with our fourth quarter results, as we continued to grow FAD per share, while reducing leverage to the lowest level in the company's history.”

Omega Healthcare Investors CEO, on the earnings call

Forward Guidance & Outlook

Omega provided 2026 Adjusted FFO guidance of $3.15 to $3.25 per diluted share. Key assumptions include: all new investments disclosed in the press release; Genesis continues paying full contractual rental obligations of $13.0 million per quarter; Maplewood pays rent at $6.3 million in January increasing to $6.5 million per month starting February; quarterly G&A expense of approximately $13 million to $15 million; no material changes in market interest rates or foreign currency exchange rates; $56 million of $213 million in mortgages and other real estate-backed investments maturing in 2026 will convert from loans to fee simple real estate with the remainder repaid; $196 million of $267 million in non-real estate backed loans maturing in 2026 will be repaid (including $137 million in Genesis loans in June 2026); and approximately $15 million to $25 million per quarter in asset sales. Guidance excludes additional acquisitions, capital markets activity, interest refinancing expenses, and provisions for credit losses.

OHI YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$90.0M$180.0M$270.0M$279.3M$319.2MRevenue$175.4M$143.8MOperating Income$113.3M$172.0MNet Income
$0$90.0M$180.0M$270.0MRevenueOperating IncomeNet Income

OHI Revenue by Segment

Triple-Net Investments
Operating Portfolio

Figures from SEC filings and company reports. Not investment advice.